Disney Has Held Talks to Purchase 20th Century Fox

07 November, 2017, 01:38 | Author: Eleanor Thompson
  • 21st Century Fox in Talks to Sell Most of Company to Disney Sources

21st Century Fox has been engaged in internal discussions over the possibility of selling most of the company to Disney, CNBC reported on Monday.

The deal would not have included the Fox broadcast network, as a company can not legally own two broadcast networks, and Disney already owns ABC. If a deal does happen, it could have massive implications for the entertainment business. It would also exclude Fox's sports channels to avoid regulatory scrutiny that would come on concerns that combining with ESPN is anti-competitive.

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A transition shot in the episode-titled "When You Dish Upon a Star"-showed a 20th Century Fox declaring the film studio "A division of Walt Disney Co". Both companies aren't in talks but could resume them, according to the report.

While Disney CEO Bob Iger swears he's leaving his post this next time around, it appears the savvy businessman who brought Pixar, Marvel Studios, and Lucasfilm under the Disney umbrella during his tenure has one more major purchase up his sleeve. That deal is now undergoing review by United Kingdom regulators. He assumes Fox shareholders would get equity in the larger Disney. While some have already begun speculating about this potentially exciting news, sources close to Fox have said that the company wishes to move forward while focusing its efforts on the news and sports arenas of the entertainment world.

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Disney in August announced a new direct-to-consumer streaming service to compete with Netflix that will cut Netflix out of much of its content mix.

Fox has bid $14.5 billion to acquire the remaining 61 percent of Sky it does not own, but the acquisition has been delayed by British regulators.

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The reaction to the possible merger is largely positive, though one fan tweeted: "Look, I love the idea is the Fantastic Four and X-Men being part of the MCU, but Disney doesn't need more properties". So it would definitely be interesting to see how a more-focused-on sports Fox would do, and how investors would react. Disney's shares were up 1.2 pct at $99.86 US.

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